U.S. Treasury yields were lower on Tuesday, as investors digested President Donald Trump’s return to the White House and a slew of new executive orders.
At 6:28 a.m. ET, the 10-year Treasury yield was lower by more than 2 basis points at 4.587%. The 2-year Treasury yield was down marginally at 4.27%.
One basis point is equal to 0.01% and yields and prices move in opposite directions.
Bond markets were closed on Monday for Martin Luther King Jr. Day. Investors watched closely as Trump was sworn in as the 47th president of the United States on Monday.
After his inauguration at the Capital, Trump signed over 40 executive orders at the Capital One Arena to an audience of 20,000 supporters.
Trump also made comments about tariffs as he was signing executive orders, saying he’s thinking of imposing 25% tariffs on Mexico and Canada from February because of their border policies. He also mentioned China, saying the country will be hit with intensified tariffs if it doesn’t approve a TikTok deal.
However, Trump said he’s not ready to impose universal tariffs yet. Investors will be on the alert to see if Trump enacts some of the pro-business policies he promised throughout his campaign.
Some housing data will be published this week. The MBA 30-year mortgage rate is due on Wednesday and weekly jobless claims are out on Thursday.
On Friday, investors will await the S&P Global Composite PMI Flash and the release of existing home sales data.
After a brief stay at Walter Reed Medical Center for COVID-19 treatment, President Donald Trump has returned to the White House. Despite still being contagious, Trump decided to leave the hospital and continue his recovery at the White House. The president’s physicians have stated that he is doing well and responding positively to treatment.
Trump’s return to the White House has sparked mixed reactions, with some praising his resilience and others criticizing his decision to leave the hospital early. The president has also been criticized for downplaying the severity of the virus and for potentially putting White House staff and others at risk by returning to work while still contagious.
As the election draws closer, Trump’s health and handling of the pandemic are sure to be major talking points. Stay tuned for updates on the president’s recovery and his campaign moving forward.
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